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Douglas Lineberry

Lineberry Law Firm, PLLC

by Douglas Lineberry on September 19, 2012

As of September 17, 2012, I am pleased to announce the formation of the Lineberry Law Firm, PLLC, in Gig Harbor, WA. My practice will continue to focus on asset protection as well as estate, business and tax planning.  With the addition of attorney Jeanette Lineberry we will also be able to provide assistance in […]

What is “Captive Insurance”?

by Douglas Lineberry on August 9, 2012

Lately a number of clients have expressed increasing interest in captive insurance programs.  Traditionally the domain of large corporations (over half of Fortune 500 companies are reported to have a captive), they are becoming more common in the medium and small size business world as well.  This very brief introductory article will outline a few […]

Rental Property Owner – Sued for Wrongful Death

by Douglas Lineberry on April 20, 2012

On April 17, 2012, the Estate of Billy Ray Shirley III sued Bill’s Towing and Garage for Mr. Shirley’s death.  The complaint is linked below if you care to read it.  It alleges that the property owner allowed its tenant, a motorcycle club, to operate an illegal nightclub on the premises.  Mr. Shirley was unfortunately […]

he use of Nevada corporate entities as an asset protection vehicle has gained ground in the last several years. The selling point of this strategy has been twofold: (1) by using a Nevada entity you somehow import Nevada’s allegedly protective laws into the jurisdiction you are doing business or holding an asset in; and (2) […]

What is estate planning, and what documents and agreements should an estate plan include? Estate planning is the process of planning for likely or inevitable events in our lives and presently determining how we should address those events. A proper estate plan considers not only obvious events like death, but should also encompass issues such […]

Washington Legislature Proposes Estate Tax Increase

by Douglas Lineberry on February 18, 2010

As if intending to rub salt into what could turn into a significant tax wound for many people, the Washington legislature is proposing to increase estate tax rates. House Bill 3184 would increase Washington State estate tax rates from the current range of 10% – 19% to 20% to 38%. This is particularly troubling in […]

Beware Walking Away from a Devalued Home

by Douglas Lineberry on February 3, 2010

So your home or condo has lost a lot of value? Maybe it’s lost so much value that you just don’t see the point any more and you are considering walking away and turning it over to the bank. Beware that in so doing you may get to keep paying a debt for a home […]

In the previous post I discussed statutory protections that apply to IRAs.  One obvious point is that an account is only protected as long is it actually is an IRA.  This post discusses what can happen when the IRA owner engages in certain conduct known as “prohibited transactions.” What is a prohibited transaction?  It’s a tax rule.  It’s all […]

Debtors have the right to claim certain property as exempt and therefore not available to be used in satisfaction of debts in the bankruptcy proceeding.  Debtors generally have the choice of exemptions set forth in federal statutes (section 522 of the bankruptcy code) or under state law.  For example, you can review the list of […]

This is an introduction to a multi-part post on asset protection for individual retirement accounts (or “IRAs”).  Many people believe that their IRA is an extremely secure asset, held inviolate against claims of creditors and fully protected by bankruptcy laws.  As we will discuss, there is a certain level of asset protection for IRAs in […]